‘Enforcement 40’ for 2020
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By Securities Docket on January 22, 2014, 2:58 pm
In a court filing on Tuesday, Mr. Tourre’s lawyers attacked the Securities and Exchange Commission’s pursuit of more than $1 million in penalties, calling it “unwarranted and unjust” and “unreasonably severe.” Mr. Tourre’s lawyers are proposing something far smaller: a maximum penalty of $65,000. via Tourre Seeks Leniency in S.E.C. Case – NYTimes.com
By Securities Docket on January 22, 2014, 9:55 am
H.R. 3547, the omnibus 2014 spending bill passed by Congress and signed into law by President Obama last week, contains more bad news for the SEC than just the meager 2% increase it provides for the SEC’s budget. A provision in the new law quietly strips away half of a $50,000,000 Reserve Fund that the […]
By Securities Docket on January 22, 2014, 8:55 am
Get caught up with the Securities Docket News Wire for January 21, 2014.
By Securities Docket on January 22, 2014, 8:06 am
Dr. Sidney Gilman, the government’s star witness in its case against Mathew Martoma, a former SAC Capital Advisors portfolio manager, testified on Tuesday that he lied to F.B.I. agents and regulators for nearly a year about passing inside information to Mr. Martoma. “I was intensely ashamed of it,” Dr. Gilman said. “I was hoping the […]
By Securities Docket on January 22, 2014, 8:02 am
The trial of Mathew Martoma presents a challenge often seen in recent insider trading prosecutions: how to mount a defense denying any wrongdoing when the defendant is unlikely to testify. One way to persuade a jury to return a not-guilty verdict is by focusing on the ordinary nature of the trading to raise questions about […]